By Sandra Davie, Senior Writer

ANOTHER 122 people have filed claims with the Small Claims Tribunal this week against self-styled trading expert Clemen Chiang, over his doctorate from an unaccredited American university.

Clearly encouraged by the success of 49 others who went to the tribunal last week, the new claimants also want to get back the fees they paid to attend his courses.

The 122, who attended weekend seminars on options trading, want a refund ranging from $3,500 to $15,000 each.

Last Thursday the tribunal found that Mr Chiang, a 34-year-old options trader, had misrepresented his qualifications. It awarded 49 people refunds of up to 80 per cent of their course fees, as well as a full refund for the cost of software and 'webinars' he offered.

If Mr Chiang pays up, he will have to give back a minimum of $2,700 each for the course fees alone. That adds up to $132,000 for the first group of 49. If the second group succeeds too, the refunds could total close to half a million dollars.

More could file claims. A Straits Times check found more than 150 people have formed groups online to seek refunds.

When contacted, Mr Chiang said he was appealing against last week's tribunal decision. He has until Thursday next week to file his appeal.

The tribunal is part of the Subordinate Courts and can hear claims involving the sale of goods or services not exceeding $10,000.

Participants in Mr Chiang's past courses were upset to learn that his PhD is from Preston University, which American education authorities have described as a 'degree supplier' offering 'fraudulent or substandard degrees'.

An engineering graduate of Nanyang Technological University, he has been running seminars in options trading for some years at his Freely Business School. Some seminars were attended by up to 200 people, each paying at least $3,500.

When The Straits Times reported last August that his doctorate was from an unaccredited university, the first group of 49 sued for their money back.

Several said that his claim to possess a doctorate in options trading, a rarity in the finance industry here, helped persuade them to sign up for his courses.

This article was first published in The Straits Times.